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3 years ago

What document is a summary of the money a company brought in (revenue) and what it paid out (expenses)?

1 answer:

4 0

The income statement shows a detailed picture of the transactions of all revenue and expenses. The income summary account then summarizes these figures in order to produce the statement of retained earnings. Both the income statement and income summary show the revenue and expenses of a company.

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A company sells children’s sleds for $70 each. The firm has variable costs per unit of $35 and total fixed costs of $120,000. Wh

UkoKoshka [18]

Answer:

$240,030

Explanation:

break-even point formula in units = total fixed costs / contribution margin

total fixed costs = $120,000
contribution margin = $70 - $35 = $35

break even point in units = $120,000 / $35 = 3,428.5 ≈ 3,429 units (we must round up)

to calculate break even point in sales dollars we multiply the break even point units by the selling price per unit = 3,429 units x $70 = $240,030

4 0

3 years ago

The only skill required of managerial accountants is that they have a solid knowledge of both financial and managerial accountin

slava [35]

Answer:

It's false

Explanation:

8 0

2 years ago

You operate a small catering firm specializing in sit-down dinner parties that you prepare and serve yourself with no helpers. A

Greeley [361]

Well I would say B because the passage states that she doesn't have the staff and so on and so forth. But it didn't say that she couldn't cook it so I would cook it but make her subcontract the rest.

7 0

3 years ago

DS Unlimited has the following transactions during August.

m_a_m_a [10]

Answer:

See the journal entries below.

Explanation:

The journal entry will look as follows:

Date Account and explanation Debit ($) Credit ($)

Aug 6 Inventory (50 * $100) 5,000

Account payable 5,000

(To record inventory purchased on account.)

Aug 7 Inventory 300

Cash 300

(To record payment of freight charges associated with the August 6 purchase.)

Aug 10 Account payable (5 * $100) 500

Inventory 500

(To record the returns of defective five game devices to GameGirl.)

Aug 14 Account payable (w.1) 4,500

Cash (balancing figure) 4,455

Inventory (w.2) 45

(To record the payment of the full amount due to GameGirl.)

Aug 23 Account receivable (30 * $120) 3,600

Sales revenue 3,600

Cost of goods sold 3,170

Inventory 3170

(To record the Sales and cost of 30 game devices purchased on August 6.)

Workings:

w.1. Account payable = Purchases on account on August 6 - Defective inventory returned on August 10 = $5,000 - $500 = $4,500

w.2. Inventory = Discount received on account payable for paying within 10 days = w.1 * 1% = $4,500 * 1% =$45

7 0

2 years ago

Consider a simple process where work flows from Activity A to Activity B to Activity C to Activity D. Activity A takes 3 minutes

Ludmilka [50]

Answer:

The correct answer is the option B: Activity B.

Explanation:

First of all, the term ''bottleneck'' in the management area refers to the activity or process in a chain of processes that its limited capacity reduces the capacity of the chain in its whole.

Once said that, in the case presented, where there are four workers and two of them have to do two differents tasks then the activity consider the bottleneck of the process will be the one in where one person does an activity after another and that reason makes that person delates more in working. That is the case of the activity B, where Aaron has to work again after the first activity and that takes him and Betty five minutes full, while in the other case where Betty works with David they only take four minutes, so therefore that the activity B is the bottleneck of the process.

6 0

3 years ago